SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) Hits New 1-Year Low – Here’s Why

Shares of SPDR ICE Preferred Securities ETF (NYSEARCA:PSK) reached a new 52-week low on Tuesday . The company traded as low as $28.91 and last traded at $28.9920, with a volume of 3913 shares trading hands. The stock had previously closed at $29.07.

SPDR ICE Preferred Securities ETF Price Performance

The company has a 50-day simple moving average of $29.86 and a 200-day simple moving average of $30.68.

Institutional Trading of SPDR ICE Preferred Securities ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in SPDR ICE Preferred Securities ETF by 1.4% in the 1st quarter. NewEdge Advisors LLC now owns 25,790 shares of the company’s stock valued at $795,000 after buying an additional 359 shares in the last quarter. Wealthspire Retirement LLC lifted its holdings in shares of SPDR ICE Preferred Securities ETF by 1.0% during the first quarter. Wealthspire Retirement LLC now owns 40,453 shares of the company’s stock worth $1,248,000 after buying an additional 405 shares in the last quarter. Cornerstone Financial Group LLC NE lifted its holdings in shares of SPDR ICE Preferred Securities ETF by 3.7% during the fourth quarter. Cornerstone Financial Group LLC NE now owns 20,111 shares of the company’s stock worth $637,000 after buying an additional 719 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of SPDR ICE Preferred Securities ETF by 1.7% in the first quarter. Private Advisor Group LLC now owns 47,204 shares of the company’s stock valued at $1,456,000 after acquiring an additional 784 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of SPDR ICE Preferred Securities ETF by 568.7% in the fourth quarter. IFP Advisors Inc now owns 2,608 shares of the company’s stock valued at $83,000 after acquiring an additional 2,218 shares during the period.

About SPDR ICE Preferred Securities ETF

SPDR Wells Fargo Preferred Stock ETF (the Fund) seeks to replicate the total return of the Wells Fargo Hybrid and Preferred Securities Aggregate Index (the Index). The Index is a modified market capitalization weighted index designed to measure the performance of non-convertible preferred stock and securities that are functionally equivalent to preferred stock, including, but not limited to, depositary preferred securities, perpetual subordinated debt and certain securities issued by banks and other financial institutions that are eligible for capital treatment with respect to such instruments akin to that received for issuance of straight preferred stock.